HR 4061
Fair Accounting for Condominium Construction Act
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Bill overview
Fair Accounting for Condominium Construction Act This bill exempts certain residential construction contracts from the requirement to use the percentage of completion method of accounting. The percentage of completion method is a tax accounting method in which the revenues and expenses of long-term contracts are recognized as a percentage of the work completed in a particular period.
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Primary sponsor
Bill, Jr. Pascrell
Cosponsor
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